Malaysia's Carsome is said to delay Singapore, US dual listing

Bloomberg
Bloomberg6/22/2022 08:10 AM GMT+08  • 2 min read
Malaysia's Carsome is said to delay Singapore, US dual listing
Carsome raised US$290 million in January at a valuation of US$1.7 billion in a series E round led by the Qatar Investment Authority. Photo: Bloomberg
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Carsome Group, which operates a Southeast Asian used-car online marketplace, is delaying its dual listing plans in Singapore and the US on concerns that deteriorating macroeconomic conditions could dent its valuation, according to people with knowledge of the matter.

Malaysia’s most valuable technology startup has halted work on the planned offerings that were set for this year, the people said. Carsome may revive the first-time share sales next year if markets improve, said the people, who asked not to be identified as the process is private.

A representative for Carsome declined to comment.

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